I Have A Exam Submission Tomorrow And For That I Need To Solve The Attached Questionaire.

Student Number: (enter on the line below) Student Name: (enter on the line below) HI6007 statistics for business DECISIONS final assessmeNt Trimester 3, 2022 TIME ALLOWED: 24 hours Assessment Weight: 50 total marks Instructions: · All questions must be answered by using the answer boxes provided in this paper. · Completed answers must be submitted to Blackboard by the published due date and time. · Use statistical table and formula sheet given in the additional resource folder in Blackboard Please ensure you follow the submission instructions at the end of this paper. Purpose: This assessment consists of five (5) questions and is designed to assess your level of knowledge of the key topics covered in this unit. HI6007 Final Assessment T3 2022 Question 1 (10 marks) i. Discuss the importance of statistics in business research with relevant examples. (3 marks) ANSWER: ** Answer box will enlarge as you type ii. Fair Hevan Mutual fund cooperation provides investment services over 10-year period. The table below has information on some of the mutual funds they holds. Fund Number of funds Total return (%) A 9651 4.7 B 2752 18.5 C 1490 11.6 D 3045 6.9 a) Based on number of funds in each category, Calculate the weighted average total return. (3 marks) ANSWER a: b) What are the other possible measures for weights, if number of mutual funds is not the best option. (2 marks) ANSWER b: c) Based on the following details on investment, calculate the expected retrun of the portfolio. (2 marks) Fund Investment($) A 2000 B 4000 C 3000 D 1000 ANSWER c: Question 2 (10 marks) The supply chain manager of a fresh food product company in Australian wants to determine whether the business plant location has any effect on operating cost. The manager has considered Melbourne, Sydney, Brisbane and Adelaide business plants and their operating costs over the past 5 months were recorded as below. Note: Assume the size of the business plants are similar across the locations Administrative Cost ($ 000) Melbourne Sydney Brisbane Adelaide 500 620 750 450 650 550 690 370 690 720 550 500 750 490 700 600 500 600 700 450 At the 5% level of significance, is there evidence of a significant difference in mean operating cost across above locations? Use six steps process of hypothesis testing to answer the question. Note – You must show all the calculations. Excel output will not be graded. ANSWER: Question 3 (10 marks) Global pandemic during past 3 years impacts almost all the industries across the word. Most of the industries had substantial negative impact while few industries succeeded due to new business opportunities. One another significant impact of global pandemic is the increasing inflation. Due to this Reserve Bank of Australia has increased cash rate 8 times during 2022. The impact of this rate hikes on real estate market is controversial. In order to assess this a research has gathered following data set over the last 10 months period related to one of the main builders in Melbourne. Month 1 2 3 4 5 6 7 8 9 10 Interest rate(lending) 3.2% 3.1% 3.0% 3.3% 4.1% 4.2% 4.35% 4.65% 5.0% 5.2% New contracts 200 215 250 220 180 175 200 190 195 200 a) Determine the regression line and predict the expected number of new contracts in this company if the lending interest rate go up to 5.35% in next month. (5 marks) ANSWER a: b) Calculate the correlation coefficient between lending rate and new contracts and critically review the possible impact of further interest rate changes on construction industry (on prospective home owners, employees, employers in the construction industry. (5 marks) ANSWER b: Question 4 (10 marks) Celinda Corporation is a plumbing service provider in Melbourne. Over the past 4 years company mean value per sales invoice was $240. As the chief accountant you need to inform the finance manager if this amount changes. Hence, you have gathered a sample of 12 invoices. According to that the mean $230 and the standard deviation is $44. If the population of sales invoice is normally distributed, assess whether there is any change in mean sales (Sig level 5%). ANSWER: Question 5 (10 marks) i. Critically review the different methods that can be used to assign probabilities and discuss the validity and practical application with relevant examples. (3 marks) ANSWER i: ii. Wonder land is a renowned service provider in leisure and entertainment. They introduced some offer for 2022 Christmas season with the target of attracting more customers and increasing company total revenue. One such offer was reduced price accommodation passes. The table below provides information on 500 customers who visited them and whether they have used the accommodation pass or not. Have you visited us before A Whether they used reduced price accommodation pass? B Yes B No B- Total Yes A 210 70 280 No A - 110 110 220 Total 320 180 500 Based on the given information you are required to; a. Calculate the probability of selecting a customer who has addended more than once and used the accommodation pass. (1 mark) ANSWER ii (a): b. Calculate the probability of selecting an either repeat attendee or attendee who used accommodation pass. (1.5 marks) ANSWER ii (b): c. Calculate the probability that customer has visited Wonder land before given that they have used the accommodation pass. (1.5 marks) ANSWER ii (c): d. Assess whether visiting Wonder land more than once and use of accommodation pass are independent events. (3 marks) ANSWER ii (d): END OF FINAL ASSESSMENT Submission instructions: Before you submit your assessment, please check the following: · You have named your file with your Student Number and Unit Code e.g. EMV12345 HI6007 It is critical you follow this file name instruction to ensure the file belongs to you. · You have saved your file in MICROSOFT WORD format only. No other format is accepted. · You have checked you are submitting the correct document as special consideration is not granted if you make a mistake. Once you have checked the above: Upload your file to the appropriate link on Blackboard. You have two attempts to submit your assessment with only the final submission being marked. ** Note: All submissions are automatically passed through SafeAssign to assess academic integrity.